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House of Assembly - Fifty-Second Parliament, Second Session (52-2)
2013-05-15 Daily Xml
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BUDGET FORECAST

Mr MARSHALL (Norwood—Leader of the Opposition) (14:18): My question is again to the Premier. Does the Premier stand by his government's budget forecasts that property taxes will grow by 9 per cent a year over the forward estimates?

The Hon. J.W. WEATHERILL (Cheltenham—Premier, Treasurer, Minister for State Development, Minister for the Public Sector, Minister for the Arts) (14:18): You will have to wait until you see the published data in the state budget; it is only a few weeks away and you will see how we deal with that. I must say, we have received some relatively positive news recently about the very substantial increase in building activity, which is flowing through to revenue. So, that is a bright point. One of the reasons we are seeing that is by virtue of the decision that this government took to actually put in place the Housing Construction Grant and also the relief on stamp duty, and I pay tribute to the former treasurer for that far-sighted decision.

That is stimulating activity. We are beginning to see a pick-up in growth. Anecdotally, we are seeing very substantial increases in inquiries to real estate agents, which had been the case for some months, but now they are translating into transactions, which are now flowing through to revenue. It would be the worst possible news of all, wouldn't it, if revenues recovered in this way? They would be horrified if revenues actually did recover this way and, indeed, if the way in which our policy change was actually making a difference—anybody in the sector will tell you it has been a welcome contribution to the public policy. I also would—

Mr VAN HOLST PELLEKAAN: Point of order.

The SPEAKER: Yes; Premier, would you be seated? Like the member for Stuart, I am concerned by the interjections of the leader, the deputy leader and the member for Heysen. Accordingly, I warn the leader for the second time, the deputy leader for the first time, and the member for Heysen for the first time. There was something else?

Mr VAN HOLST PELLEKAAN: Yes, Mr Speaker. I ask you to bring the Premier to the substance of the question, which was fairly straightforward: does he stand by his 9 per cent prediction?

The SPEAKER: I will listen carefully to what the Premier is saying.

The Hon. J.W. WEATHERILL: Thank you, sir. What I am trying to do, beyond saying that these will be published in the budget, is to point to the other factors which would tend to give some comfort that those estimates are accurate estimates. I also point out the fine work of the Deputy Premier who, working together with the Adelaide City Council, has created a planning environment which has led to a massive increase of activity in the city. These are all steps which together are stimulating a sector which is doing it tough.

When we see a sector that's doing it tough, we respond, because we understand that there is a role for government. We are not the 'false economy' guys, or the 'let's take our hands off the wheel and let this drive into the ditch' guys; we are intervening to make sure that the public interest is protected. If that means that we have to recalibrate some of our revenue measures, we have to effect some of our regulations—the other regulatory response, of course, was private certification that the Deputy Premier has advanced, which is another welcome sign for the sector. We are sending positive signals for growth in the residential construction sector. I am pleased to say that seems to be having an effect.

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